Polar Asset Management Partners Inc. Makes New Investment in ArcelorMittal S.A. (NYSE:MT)

Polar Asset Management Partners Inc. purchased a new stake in ArcelorMittal S.A. (NYSE:MT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 109,000 shares of the basic materials company's stock, valued at approximately $2,521,000.

A number of other hedge funds also recently made changes to their positions in MT. Bank of New York Mellon Corp lifted its holdings in shares of ArcelorMittal by 221.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company's stock valued at $78,712,000 after acquiring an additional 2,344,020 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of ArcelorMittal by 24.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 67,562 shares of the basic materials company's stock worth $1,563,000 after purchasing an additional 13,141 shares in the last quarter. American Century Companies Inc. lifted its holdings in ArcelorMittal by 4.8% during the 4th quarter. American Century Companies Inc. now owns 280,838 shares of the basic materials company's stock valued at $6,496,000 after purchasing an additional 12,929 shares during the last quarter. Callan Family Office LLC acquired a new position in ArcelorMittal in the fourth quarter valued at about $207,000. Finally, Vestmark Advisory Solutions Inc. bought a new position in shares of ArcelorMittal in the fourth quarter valued at approximately $256,000. Institutional investors and hedge funds own 9.29% of the company's stock.

ArcelorMittal Trading Down 2.1%

ArcelorMittal stock traded down $0.65 during midday trading on Thursday, hitting $30.19. 2,492,688 shares of the stock were exchanged, compared to its average volume of 1,862,760. The stock has a market capitalization of $24.73 billion, a PE ratio of 18.30, a P/E/G ratio of 0.14 and a beta of 1.62. The company has a fifty day simple moving average of $29.14 and a two-hundred day simple moving average of $26.90. The company has a quick ratio of 0.59, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. ArcelorMittal S.A. has a 52 week low of $20.52 and a 52 week high of $34.90.

ArcelorMittal (NYSE:MT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.33. The company had revenue of $14.80 billion for the quarter, compared to analyst estimates of $15.11 billion. ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. The business's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period last year, the business posted $1.16 earnings per share. Equities research analysts anticipate that ArcelorMittal S.A. will post 3.72 EPS for the current fiscal year.

ArcelorMittal Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, June 11th. Investors of record on Monday, May 19th will be paid a dividend of $0.2338 per share. This represents a yield of 1.44%. The ex-dividend date of this dividend is Friday, May 16th. ArcelorMittal's payout ratio is presently 30.07%.

Wall Street Analysts Forecast Growth

MT has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of ArcelorMittal in a research report on Monday, April 14th. The Goldman Sachs Group upgraded ArcelorMittal from a "neutral" rating to a "buy" rating and increased their target price for the stock from $29.00 to $31.70 in a report on Thursday, April 10th. Morgan Stanley downgraded shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group cut shares of ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 price objective for the company. in a research report on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.95.

ArcelorMittal Company Profile

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.